Taiwan Semiconductor Manufacturing Co. (TSMC) said Friday it is expanding a major plant in central Taiwan estimated to create 8,000 new jobs and generate $3 billion in annual revenue.

The world’s largest contract microchip maker made the announcement during the groundbreaking ceremony for the third-phase expansion of its plant, named Fab 15, in the Central Taiwan Science Park in Taichung city.

TSMC began construction for Fab 15 in July 2010 and facilities in the first two phases are expected to generate up to $3 billion in annual revenue when volume production begins around next year, it said.

The plant currently employs about 1,400 employees and is expected to create a total of 8,000 new jobs following the expansions, it added.

Taiwan Semiconductor Manufacturing Co. (TSMC) said Friday it is expanding a major plant in central Taiwan estimated to create 8,000 new jobs and generate $3 billion in annual revenue.(AFP)

The company has said it would invest more than $10 billion on Fab 15, dubbed a “green fab” as it uses energy conservation and pollution control technology to recycle rainwater and exhaust heat, and generate power from solar energy.

TSMC posted its biggest earnings decline since early 2009 when net profit in the first three quarters to September fell 35.2 percent to $1.01 billion as the global economic slump hit demand.

Its consolidated net sales in November fell 4.7 percent to $1.2 billion from last month.